Services to the UK economy

Part of the solution

London universities and higher education (HE) colleges are home to national and international centres of excellence in research, teaching and technology transfer.

Each £1 million of activity by London HE institutions (HEIs) produces £1.39 million* in other UK industries.

Contributing to the economy

London HEIs generate £12 billion each year

£4.85 billion in direct economic impact

£6.7 billion in secondary, or indirect, activities

£820 million from international students in London

Source: Making an economic impact: Higher education and the English regions. Research Report, Universities UK. June 2010.

* Note that a figure of £139 million was used in error in the first printed copies of Working Capital (correction to web version on 17 June 2010)

Skills

Creating jobs

Over 74,000 jobs are created by London HEIs, nearly 80% of them within the London region (1). But that’s not all. Universities directly employ 94,000 staff, from academics to gardeners (2). International students who come to study in London generate 40,000 jobs (3) and spin-off companies formed to develop research emerging from London HEIs employ at least 2,600 people (4).

That’s a lot of job creation. In fact, London HEIs are one of London’s biggest employers.

Providing skills

London HEIs offer over 30,000 qualifications (5).

HEIs in London also deliver 650,000 learner days in Continuous Professional Development (CPD) and continuing education courses (6). In fact, London HEIs supply training to businesses and individuals worth £120 million (excluding NHS and TDA) (7).

Training equivalent to the South East and East of England combined (8).

Sources: (1) Making an economic impact: Higher education and the English regions. Research Report, Universities UK, June 2010. (Figure refers to full-time equivalents, FTE)

Innovation

A partner for business

London HEIs have the most links of any UK region with large R&D performing firms (1).

They are world leaders in research, innovation and knowledge transfer. London has the highest cumulative patent portfolio of any UK region with over 4,000 patents (2). The capital’s HEIs have been awarded over £243 million in research funding through competitive grants (3).

25% of the top UK 1000 R&D companies chose to be in London (4).

Solving global challenges

London is a cluster of brilliant minds and technology.

It’s no accident that London was awarded 3 out of 5 Academic Health Science Centres by an international panel of experts (5) and 80 university research departments in London are focusing on climate change (6).

Outreach staff at London HEIs arrange school-based activities for 75,000 school pupils each year (3).

A part of the community

Each year 3 million people attend events organised by London HEIs (4).

HEIs in London employ 1,300 staff dedicated to business and community partnerships (5). London HEIs are key partners in some of the boldest national and international collaborations, such as the British Library’s UK Research Reserve and the Global Medical Education Cluster.

London HEIs are contributing to a fair and inclusive society.

A unique knowledge cluster

Whatever the demands of a business, organisation or individual, they can be met by London HEIs.